Nasdaq futures indicated an upward trajectory on Wednesday, continuing the momentum from two days of significant increases at the start of the holiday-shortened week. The stock and bond markets will observe a closure tomorrow in observance of Thanksgiving, with an early closing on Friday. Futures linked to the tech-heavy Nasdaq, the benchmark S&P 500, and the blue-chip Dow Jones Industrial Average experienced increases of 0.2%, 0.2%, and 0.1%, respectively. In the initial two trading days of this holiday-shortened week, the Nasdaq experienced an increase of 3.4%, whereas the S&P 500 and Dow recorded gains of 2.5% and 1.9%, respectively. Yesterday, the Dow experienced a notable increase, rising by 1.4%, which translates to a gain of 663 points.

Despite a significant uptick in the major indexes yesterday, shares of Nvidia and other semiconductor companies experienced a decline following reports that Meta Platforms may opt for Google’s AI chips in its data centers. Nvidia stock ended down 2.6%, while shares of Google parent Alphabet continued its recent ascent after the company unveiled its advanced Gemini 3 AI model last week, rising 1.5%. Nvidia’s shares experienced a decline of an additional 1% in premarket trading, whereas Alphabet’s shares saw an increase of 1%. Shares of chipmakers Advanced Micro Devices and Broadcom exhibited a decline of 1.5% and a modest increase, respectively.

Yesterday, AMD shares experienced a decline of 4.1%, positioning them as the primary decliner within the S&P, whereas Broadcom shares increased by 2.6% after an impressive 11% surge on Monday, leading both the S&P 500 and Nasdaq. In post-earnings moves, Urban Outfitters stock soared 15%, Dell Technologies advanced 3%, HP fell 4%, and Deere & Co. dropped 4.5%. The yield on the 10-year Treasury note increased to 4.01% from 4.00% at Tuesday’s close. Bitcoin was trading at approximately $86,400, a decline from its overnight peak of roughly $88,200.

The U.S. dollar index, which monitors the dollar’s performance relative to a selection of foreign currencies, increased to 99.84. WTI crude futures, the U.S. oil benchmark, remained relatively stable at approximately $58 per barrel. Gold futures increased by 0.7%, reaching a price of $4,165 per ounce.